More Moral Hazard?
President Obama said he would announce his plans to attack home foreclosure today just before signing the stimulus bill yesterday. No matter what the plan is, it will undoubtedly shift…
Credit Where It’s Due?
Looks like the Dodd credit card bill is poised to move its way through the hallowed halls of Congress. Given the topsy-turvy mortgage market, anything remotely related to…
Down The Rabbit Hole: Feds Outline Bear Stearns Collateral
The key element of the Bear Stearns bailout is a secretive government-backed loan of $29 billion to J.P. Morgan Chase. (It is for $30 billion but JP Morgan is…
Obama Backs Bailout Measures for “Unfair” Mortgages
In his economic address today, he addressed the housing markets: Over 2 million households are at risk of foreclosure. Millions more have seen their home values plunge. Many Americans…